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03 May 2024

Edward Snowden Warns “The Clock Is Ticking” for Bitcoin Privacy

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Edward Snowden, the renowned whistleblower and advocate for cryptocurrencies, issued a stark warning on X regarding Bitcoin's privacy concerns amidst the U.S. government's crackdown on crypto mixers. Snowden urged Bitcoin developers to prioritize privacy solutions at the protocol level, emphasizing that time is running out.

His post on X garnered significant attention, garnering over 8,400 likes. Snowden's message was prompted by Wasabi Wallet's decision to cease its Coinjoin service due to regulatory uncertainties in the U.S. In response, zkSNACKs, the developer behind Wasabi Wallet, expressed the difficulty of operating without legal clarity and the need for more certainty before moving forward.

The closure of crypto mixers, designed to obscure crypto transaction sources and enhance privacy, aligns with the U.S. government's intensified scrutiny of such services. Recent legal actions include charging the founders of Tornado Cash with money laundering and sanctions violations, linking the platform to the Lazarus Group, a state-backed hacking entity from North Korea. Additionally, the DOJ's arrest of Samourai Wallet's founders on similar charges has raised concerns within the crypto community about potential regulatory repercussions for non-custodial services.

Snowden criticized the DOJ's actions, advocating for default privacy measures in cryptocurrencies to prevent undue criminalization of developers and users. He emphasized that privacy should not be considered exceptional but rather a fundamental aspect of financial transactions.

Snowden's warning underscores the mounting regulatory pressures facing the crypto space and the imperative for proactive measures to safeguard privacy in digital assets

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